DoE says power rates may drop below P0.50/kWh by 2050 with RE rollout - BusinessWorld Online

DoE says power rates may drop below P0.50/kWh by 2050 with RE rollout - BusinessWorld Online

ELECTRICITY RATES may decline to below 50 centavos per kilowatt-hour (kWh) by 2050 as new renewable energy (RE) projects under the government’s Green Energy Auction Program (GEAP) come online, the Department of Energy (DoE) said. At a forum hosted by the Institute for Climate and Sustainable Cities on Wednesday, Energy Undersecretary Rowena Cristina L. Guevara said the DoE asked the spot market operator to simulate electricity prices through 205…